Fixed Income

BlackRock Sustainable Sterling Short Duration Credit Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Non-investment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

Loading

Performance

Performance

Chart

View full chart

This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years.

  2019 2020 2021 2022 2023
Total Return (%) 2.3 0.4 -6.7 8.3
Target Benchmark 1 (%) 1.8 1.6 2.9 6.3

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
7.10 0.52 - - 1.12
Target Benchmark 1 (%) 6.84 4.32 - - 3.40
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.40 0.54 1.06 2.84 7.10 1.57 - - 5.39
Target Benchmark 1 (%) 2.82 0.57 1.70 3.40 6.84 13.51 - - 17.09
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of 31/Mar/2024

- 8.60 -1.83 -2.32 6.66
Target Benchmark 1 (%)

as of 31/Mar/2024

- 1.64 1.67 3.77 6.67

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in GBP, hedged share class benchmark performance is displayed in GBP.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 24/Jun/2024
GBP 956,727,791
Fund Launch Date
12/Sept/2019
Fund Base Currency
GBP
Target Benchmark 1
3 Month SONIA Compounded in Arrears + 1.5%
Initial Charge
0.00%
ISIN
GB00BFK3LV19
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 100.00
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRSDCXA
Share Class launch date
12/Sept/2019
Share Class Currency
GBP
Asset Class
Fixed Income
Investment Association Category
£ Corporate Bond
Ongoing Charges Figures
0.02%
Annual Management Fee
0.00%
Minimum Initial Investment
GBP 10,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
GBP Corporate Bond - Short Term
Dealing Frequency
Daily, forward pricing basis
SEDOL
BFK3LV1

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/May/2024
335
3y Beta
as of 31/May/2024
2.709
Modified Duration
as of 31/May/2024
3.15
Effective Duration
as of 31/May/2024
3.13
WAL to Worst
as of 31/May/2024
2.55
Standard Deviation (3y)
as of 31/May/2024
5.72%
Yield to Maturity
as of 31/May/2024
5.23
Weighted Average YTM
as of 31/May/2024
5.11%
Weighted Avg Maturity
as of 31/May/2024
2.55

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BlackRock Sustainable Sterling Short Duration Credit Fund, Class X, as of 31/Jan/2023 rated against 86 GBP Corporate Bond - Short Term Funds.

Holdings

Holdings

as of 31/May/2024
Name Weight (%)
UNITE (USAF) II PLC RegS 3.921 06/30/2025 1.33
NIE FINANCE PLC RegS 6.375 06/02/2026 1.22
LONDON AND QUADRANT HOUSING TRUST RegS 2.625 05/05/2026 1.20
ANGLIAN WATER OSPREY FINANCING PLC MTN RegS 4 03/08/2026 1.19
DS SMITH PLC MTN RegS 4.375 07/27/2027 1.16
Name Weight (%)
TRATON FINANCE LUXEMBOURG SA MTN RegS 5.625 01/16/2029 1.16
RENTOKIL INITIAL FINANCE BV MTN RegS 3.875 06/27/2027 1.11
YORKSHIRE WATER FINANCE 6.454 05/28/2027 1.11
ABN AMRO BANK NV MTN RegS 5.125 02/22/2028 1.10
DIGITAL DUTCH FINCO BV RegS 0.625 07/15/2025 1.08
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Bid Price Offer Price ISIN
Class X GBP 1.06 1.06 GB00BFK3LV19
Class I Inc GBP 1.03 1.03 GB00BN091156
Class I GBP 1.05 1.06 GB00BFK3LT96
Class X GBP 0.95 0.96 GB00BFK3LX33
Class D GBP 1.05 1.06 GB00BFK3LS89

Portfolio Managers

Portfolio Managers

Demi Budwig

Directoris a Portfolio Manager for the Sterling Fundamental Fixed Income Team within BlackRock's Global Fixed Income Group.

Simon Blundell

Managing Director, is Head of the Fundamental Sterling Team within BlackRock's Global Fixed Income (GFI) Group.

Literature

Literature